Year-End Report 12 months – 1 January-31 December 2025

Fourth quarter (1 Oct-31 Dec 2025)

• Net sales increased by 93 percent to MSEK 3,422 (1,771). Currency-adjusted sales rose by 98 percent compared to the preceding year, with organic growth accounting for +3 percent and the acquisition of HMY contributing +95 percent.
• Operating profit before depreciation and amortisation (EBITDA) excluding non-recurring items of MSEK -67 (-27) amounted to MSEK 314 (172). 2)
• Operating profit amounted to MSEK 114 (79) and the operating margin was 3.3 percent (4.5). Operating profit was charged with non-recurring items of MSEK -67 (-27). 2)
• Profit after financial items totalled MSEK 56 (81). Profit was charged with non-recurring items of MSEK -67 (-27). 2)
• Profit after tax amounted to MSEK -3 (70). 2)
• Earnings per share before and after dilution totalled SEK -0.05 (0.29). 2)
• Cash flow from operating activities increased by 154 percent to MSEK 821 (323).

Financial year (1 Jan-31 Dec 2025)

• Net sales increased by 94 percent to MSEK 12,780 (6,585). Currency-adjusted sales rose by 97 percent compared to the preceding year, with organic growth accounting for +4 percent and the acquisition of HMY contributing +93 percent. 1)
• Operating profit before depreciation and amortisation (EBITDA) excluding non-recurring items of MSEK -183 (-48) amounted to MSEK 1,267 (761). 1, 2)
• Operating profit amounted to MSEK 580 (459) and the operating margin was 4.5 percent (7.0). Operating profit was charged with non-recurring items of MSEK -183 (-48). 1, 2)
• Profit after financial items totalled MSEK 344 (438). Profit was charged with non-recurring items of MSEK -186 (-48). 1, 2)
• Profit after tax amounted to MSEK 158 (320). 1, 2)
• Earnings per share before dilution totalled SEK 0.51 (1.38). Earnings per share after dilution totalled SEK 0.51 (1.37). 1, 2)
• Cash flow from operating activities increased by 26 percent to MSEK 785 (624).
• The equity/assets ratio at the end of the financial year was 35 percent (60).
• Net debt excluding lease liabilities amounted to MSEK 2,332 (-969).
• The Board of Directors proposes that no dividend be paid on ordinary shares for 2025.

Pro forma combined financial information for the ITAB Group 3)

Due to the acquisition of HMY, which was completed on 31 January 2025, figures per quarter and for full-year 2025 as well as the comparative figures per quarter and for full-year 2024 are also presented on a pro forma basis to illustrate the financial effects of the acquisition. See Note 8 in the Year-End Report for more information.

1) HMY is consolidated in the ITAB Group as of 1 February 2025 and is therefore included for eleven months (February–December) of the 2025 financial year.
2) EBITDA, operating profit and profit after financial items for the fourth quarter of 2025 were charged with non-recurring items of MSEK -67. EBITDA/operating profit and profit after financial items for the 2025 financial year were charged with non-recurring items of MSEK -183 and MSEK -186, respectively. Refer to Note 9 in the Year-End Report for more information.
3) Summary pro forma combined financial information for the ITAB Group including HMY per quarter and full-year 2025 (as of January 2025) as well as per quarter and full-year 2024. See Note 8 in the Year-End Report for more information.

Events during the financial year

• The acquisition of HMY was completed on 31 January 2025, and the company is consolidated in the ITAB Group as of 1 February 2025.
• In April, ITAB signed agreements with one of the UK’s largest grocery chains for the roll-out of new smart gates in over 200 stores, and with one of Europe’s largest DIY, home improvement and gardening chains for the delivery of solutions for the establishment of five new stores in Italy.
• In May, ITAB acquired the remaining 82 percent of the shares in the technology and retail AI startup Signatrix GmbH.
• ITAB’s President & CEO, Andréas Elgaard, announced his resignation at the end of July and left the Group on 6 January 2026.
• In October, the Board of Directors appointed Björn Borgman as the new President & CEO of the ITAB Group, effective 1 May 2026. Glauco Frascaroli was appointed Interim President & CEO from 7 January until April 2026.
• In December, ITAB commenced delivery and installation of self-checkouts to the stores of a leading grocery chain in multiple European countries.
• In cooperation with its Australian partner, ITAB began installing loss prevention solutions for one of Australia’s largest grocery chains at the end of the year, with its solutions to be installed in at least 500 stores.
• To strengthen its position in solution-focused retail design, ITAB acquired the design agency Blink in December.

President’s comments –
Eventful year as the new stronger ITAB Group takes shape

2025 was a truly eventful year for the ITAB Group, dominated by the acquisition and merger with HMY. Together, we are creating the leading solution provider for retailers with a strong market position. The new Group’s sales and earnings performance was stable during the year, with most of our operations achieving profitability in line with or above set targets. At the same time, it is also encouraging to see our strong cash flow from operating activities of MSEK 785. Pro forma for the combined Group, currency-adjusted sales increased by 5 percent to MSEK 13,270 for 2025. Pro forma adjusted EBIT amounted to MSEK 847, corresponding to an adjusted EBIT margin of 6.4 percent. In conclusion, we have excellent potential to further strengthen our profitability going forward,” concludes Interim President & CEO Glauco Frascaroli.

Please read the full President’s comments in the Year-End Report.

Jönköping, 10 February 2026

ITAB Shop Concept AB (publ)

Webcast presentation on 10 February 2026 at 10:30 a.m. CET
ITAB arranges a webcast presentation today, 10 February 2026 at 10:30 a.m. CET, in which Glauco Frascaroli, Interim President & CEO, and Andreas Helmersson, CFO, will present the Year-End Report for 2025 and answer any subsequent questions.
To participate via webcast – please use the weblink below. Via the webcast you are able to ask questions in writing.
https://itab-shop-concept.events.inderes.com/q4-report-2025

To participate in the teleconference, please register via the weblink below. After registration you will be provided phone numbers and a conference ID to access the conference call. You can ask questions verbally via the teleconference.
https://events.inderes.com/itab-shop-concept/q4-report-2025/dial-in
 

The information in this report is such that ITAB Shop Concept AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons below, at 7:00 a.m. CET on 10 February 2026.
   This report is in all respects a translation of the Swedish original Year-End Report. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.